Strategies for a Platform that Thrives in Brazil's New iGaming Market
Brazil's iGaming industry is undergoing a transformative period driven by new regulations to enhance transparency, security, and control within the online betting market. In this context, Mickael Shahinyan, co-founder of Oddsgate, shares critical strategies for adapting platforms, as Oddsgate did, to meet these evolving requirements.
Adapting to Regulatory Changes
In October, through the Ministry of Finance, the Brazilian government initiated measures to block access to websites that had yet to start the regularization process. Only platforms adhering to or beginning adjustments to meet regulatory standards can operate in this newly regulated market.
GLI Certifications: A Key Advantage
Companies with GLI-19 and GLI-33 certifications from Gaming Laboratories International have a head start. These certifications confirm rigorous compliance testing, enabling platforms to streamline their entry into Brazil’s regulated market.
Platform providers need only to adjust products to meet local regulator requirements. Once completed, these platforms receive a "federal" designation, confirming compliance with Brazil's federal online betting regulations. Mickael Shahinyan of Oddsgate highlights the importance of these certifications:
"The GLI Federal certification process is a crucial milestone in ensuring that Brazilian-focused betting platforms meet the most stringent security and transparency standards. Obtaining this certification reinforces the entire industry's commitment to creating a responsible betting environment for operators and players. With the recent adaptations required by Brazilian regulations, the process continues to move forward steadily, especially for operators seeking federal and state licenses."
Oddsgate's Compliance Strategy
Oddsgate has committed to full compliance with Brazilian regulations by adapting its B2B platform and undertaking a rigorous testing schedule divided into five key phases:
October 1: API connection stage.
October 8: Successful test data submission.
October 18: Real data submission and quality check.
October 28: Completion of the initial phase.
November 4: Test evaluation.
According to Shahinyan:
"Our platform successfully passed the initial compliance stages, including a test on October 8, and we are now preparing the final steps. These tests do not directly certify the platform; they ensure that the company is fully aligned with the established standards. On November 4th, SIGAP will send the analysis results of the reports to approved gaming laboratories."
Technological Innovations for Compliance
Oddsgate is implementing cutting-edge solutions to ensure enhanced security and adherence to regulations:
Facial Recognition User Verification: Prevents fraud through accurate user identification.
Financial Traceability: Tracks financial flows to combat money laundering.
Behavioral Pattern Detection: AI-powered monitoring to identify suspicious activities.
Addiction Control Tools: Limits login time and betting amounts to protect players.
Game Segregation: Reorganizing game offerings in compliance with differentiated tax rules for fixed-odds betting and online casinos.
Geolocation and Monitoring: Advanced tools for secure operations and transparency.
Access Restrictions: Minors and individuals with potential conflicts of interest are restricted from accessing the platform.
Commitment to Innovation and Compliance
With increased regulatory demands, Oddsgate remains dedicated to fostering innovation while ensuring compliance. By supporting customers and partners through this transitional period, the company is also laying the groundwork for license renewals and certifications for 2025.
Shahinyan emphasizes that adaptability and forward-thinking are essential for navigating Brazil's evolving iGaming landscape challenges.
Conclusion
Brazil’s new iGaming market presents challenges and immense opportunities for companies prepared to adapt quickly and invest in compliance and innovation. Platforms like Oddsgate set the standard for secure, transparent, and responsible betting environments, paving the way for sustainable success in this transformative market.
